EMPLOYMENT AND AMENDED AND RESTATED SEVERANCE AGREEMENTSeverance Agreement • January 22nd, 2008 • Perceptron Inc/Mi • Optical instruments & lenses • Michigan
THIS EMPLOYMENT AND AMENDED AND RESTATED SEVERANCE AGREEMENT, dated as of January 21, 2008, is between Perceptron, Inc. (the “Company”) and Alfred A. Pease, who is currently employed by the Company in the position of President and Chief Executive Officer (the “Executive”) and amends and restates a certain Severance Agreement dated September 7, 2005 between the Company and the Executive (the “Severance Agreement”). The parties acknowledge that the Company and the Executive previously entered into an employment agreement dated February 14, 1996 (the “Prior Agreement”). The Company and the Executive agree that this Agreement supersedes and renders void the Prior Agreement and Severance Agreement, except as otherwise provided in this Agreement.
